NOVAGOLD RESOURCES (Germany) Performance

NGR Stock  EUR 2.46  0.12  5.13%   
The company secures a Beta (Market Risk) of -0.36, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning NOVAGOLD RESOURCES are expected to decrease at a much lower rate. During the bear market, NOVAGOLD RESOURCES is likely to outperform the market. NOVAGOLD RESOURCES has an expected return of -0.44%. Please make sure to verify NOVAGOLD RESOURCES kurtosis, rate of daily change, and the relationship between the skewness and daily balance of power , to decide if NOVAGOLD RESOURCES performance from the past will be repeated at some future point.

Risk-Adjusted Performance

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Over the last 90 days NOVAGOLD RESOURCES has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain rather sound which may send shares a bit higher in April 2024. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders. ...more
Begin Period Cash Flow91.1 M
Free Cash Flow-12.4 M
  

NOVAGOLD RESOURCES Relative Risk vs. Return Landscape

If you would invest  338.00  in NOVAGOLD RESOURCES on December 29, 2023 and sell it today you would lose (92.00) from holding NOVAGOLD RESOURCES or give up 27.22% of portfolio value over 90 days. NOVAGOLD RESOURCES is producing return of less than zero assuming 3.4653% volatility of returns over the 90 days investment horizon. Simply put, 30% of all stocks have less volatile historical return distribution than NOVAGOLD RESOURCES, and 99% of all equity instruments are likely to generate higher returns than the company over the next 90 trading days.
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Assuming the 90 days trading horizon NOVAGOLD RESOURCES is expected to under-perform the market. In addition to that, the company is 6.05 times more volatile than its market benchmark. It trades about -0.13 of its total potential returns per unit of risk. The NYSE Composite is currently generating roughly 0.23 per unit of volatility.

NOVAGOLD RESOURCES Market Risk Analysis

Today, many novice investors tend to focus exclusively on investment returns with little concern for NOVAGOLD RESOURCES's investment risk. Standard deviation is the most common way to measure market volatility of stocks, such as NOVAGOLD RESOURCES, and traders can use it to determine the average amount a NOVAGOLD RESOURCES's price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.

Sharpe Ratio = -0.1281

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Estimated Market Risk

 3.47
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70% of assets are more volatile

Expected Return

 -0.44
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Most of other assets have higher returns

Risk-Adjusted Return

 -0.13
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Most of other assets perform better
Based on monthly moving average NOVAGOLD RESOURCES is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of NOVAGOLD RESOURCES by adding NOVAGOLD RESOURCES to a well-diversified portfolio.

NOVAGOLD RESOURCES Fundamentals Growth

NOVAGOLD Stock prices reflect investors' perceptions of the future prospects and financial health of NOVAGOLD RESOURCES, and NOVAGOLD RESOURCES fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on NOVAGOLD Stock performance.

About NOVAGOLD RESOURCES Performance

To evaluate NOVAGOLD RESOURCES Stock as a possible investment, you need to clearly understand its upside potential, downside risk, and overall future performance outlook. You may be satisfied when NOVAGOLD RESOURCES generates a 15% return over the last few months, but what if the market is generating 25% over the same period? In this case, it makes sense to compare NOVAGOLD Stock's performance with different market indexes, such as the Dow or NASDAQ Composite. These indexes can act as benchmarks that will help you to understand NOVAGOLD RESOURCES market performance in a much more refined way. The Macroaxis performance score is an integer between 0 and 100 that represents NOVAGOLD's market performance from a risk-adjusted return perspective. Generally speaking, the higher the score, the better is overall performance as compared to other investors. The score is normalized against the average investing universe (the best we can interpret from the data available). Within this methodology, scores of individual equity instruments will always be inferior to the scores of portfolios of equities as portfolios typically diversify a lot of unsystematic risks away. The formula to derive the Macroaxis score bases on multiple unequally-weighted factors. For more information, refer to our portfolio performance evaluation section.
Please also refer to our technical analysis and fundamental analysis pages.

Things to note about NOVAGOLD RESOURCES performance evaluation

Checking the ongoing alerts about NOVAGOLD RESOURCES for important developments is a great way to find new opportunities for your next move. Stock alerts and notifications screener for NOVAGOLD RESOURCES help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
NOVAGOLD RESOURCES generated a negative expected return over the last 90 days
NOVAGOLD RESOURCES has high historical volatility and very poor performance
Net Loss for the year was (53.34 M) with profit before overhead, payroll, taxes, and interest of 0.
NOVAGOLD RESOURCES generates negative cash flow from operations
Evaluating NOVAGOLD RESOURCES's performance can involve analyzing a variety of financial metrics and factors. Some of the key considerations to evaluate NOVAGOLD RESOURCES's stock performance include:
  • Analyzing NOVAGOLD RESOURCES's financial statements, including its income statement, balance sheet, and cash flow statement, helps in understanding its overall financial health and growth potential.
  • Getting a closer look at valuation ratios like price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and price-to-book (P/B) ratio help in understanding whether NOVAGOLD RESOURCES's stock is overvalued or undervalued compared to its peers.
  • Examining NOVAGOLD RESOURCES's industry or sector and how it is performing can give you an idea of its growth potential and how it is positioned relative to its competitors.
  • Evaluating NOVAGOLD RESOURCES's management team can have a significant impact on its success or failure. Reviewing the track record and experience of NOVAGOLD RESOURCES's management team can help you assess the Company's leadership.
  • Pay attention to analyst opinions and ratings of NOVAGOLD RESOURCES's stock. These opinions can provide insight into NOVAGOLD RESOURCES's potential for growth and whether the stock is currently undervalued or overvalued.
It's essential to remember that evaluating NOVAGOLD RESOURCES's stock performance is not an exact science, and many factors can impact NOVAGOLD RESOURCES's stock market price. Therefore, it's also important to diversify your portfolio and not rely solely on one company or stock for your investments.
When determining whether NOVAGOLD RESOURCES is a strong investment it is important to analyze NOVAGOLD RESOURCES's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact NOVAGOLD RESOURCES's future performance. For an informed investment choice regarding NOVAGOLD Stock, refer to the following important reports:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NOVAGOLD RESOURCES. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.
For information on how to trade NOVAGOLD Stock refer to our How to Trade NOVAGOLD Stock guide.
You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.

Complementary Tools for NOVAGOLD Stock analysis

When running NOVAGOLD RESOURCES's price analysis, check to measure NOVAGOLD RESOURCES's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy NOVAGOLD RESOURCES is operating at the current time. Most of NOVAGOLD RESOURCES's value examination focuses on studying past and present price action to predict the probability of NOVAGOLD RESOURCES's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NOVAGOLD RESOURCES's price. Additionally, you may evaluate how the addition of NOVAGOLD RESOURCES to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between NOVAGOLD RESOURCES's value and its price as these two are different measures arrived at by different means. Investors typically determine if NOVAGOLD RESOURCES is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NOVAGOLD RESOURCES's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.